2014 Austin Housing Market in Review
Greater Austin is setting records again for single family home sales volumes in 2014, marking the fourth straight year of annual home sales increases. December was a hot month with a 14% increase in the number of homes sold over December 2013. Year over year, Austin showed a 2% increase in home sales.
Population growth has lead to an increase in sales volume and a low housing inventory level resulted in increased home prices. The median price of single family homes increased 8% over last year with a 2.2 month inventory level. This level is still well below the 6.5 month inventory level that experts consider a balanced housing market.
In 2014, the average home was on the market for 47 days. If you have been on the fence about moving, Spring of 2015 is a great time to give Catalano & Associates Realty a call to talk about your options. With interest rates still low, but projected to climb, you can take advantage of the low cost of financing your next home while also benefiting from the increasing prices and demand for your current property.
Broker, REALTOR, ePro